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Graña y Montero makes governance changes amid bribery probe

Peruvian engineering and construction company Graña y Montero has made several governance changes of late, including the appointment of a new chief risk and compliance officer, as the company faces a bribery investigation connected to Odebrecht.

Prosecutors last month filed charges against Graña y Montero and a former top executive connected to bribery payments made by Odebrecht in exchange for winning a contract. “As we promptly announced to the market, and as a consequence of the current situation, we have launched an internal investigation, carried out by a renowned independent international company; notwithstanding the above, we will continue cooperating with the relevant authorities in the ongoing investigations,” the company stated.